News Archive for April 2022

It's not just Tesla anymore; with a range of new EV models from brands like Polestar, BYD, BMW, Hyundai, Lexus, and plenty of others hitting the roads, it's clear that the demand for EVs in Australia is growing.

Cash gifts are the best gifts: it is known.

Let's face it: things are exxy. Pricey. Costing all the dollarydoos! From food to fuel to housing, the ballooning cost of living has got many Australians breathing into a paper bag.

We all love a good ‘dinner in front of the TV’ situation. But there’s nothing worse than when your food goes cold before finding something to watch.

Ladies and gents, boys and girls. The 2023 Sydney Royal Easter Show kicks off in just a few weeks! I can already smell the Dagwood Dogs (and an oddly nostalgic mix of animal smells).

Are you under 35? You’re in luck, as it turns out that some banks offer special rates that apply to certain age brackets. When it comes to savings accounts, utilising whatever you can to get the best deal possible can be helpful in your wealth building journey.

Last year, Commonwealth Bank introduced a green home loan offer, which rewards new and existing customers for reducing their dwellings’ environmental footprint.

Investing in property has amazing benefits, from rental income and tax deductions to impressive capital gains. But even a casual browse of home loans reveals that investors tend to get saddled with higher interest rates than owner-occupiers. What gives?

No place like home, hey? Movie houses can be iconic parts of cinema magic, from the cosy crush of Full House to the spooky nostalgia of Disney’s Haunted Mansion. Childhood memories abound of wacky hijinks and just so. Much. Property damage!

We've been spending a lot of time at home lately, so it makes sense to get an internet plan powerful enough for all our needs. Between 5G and NBN, we're spoiled for choice – but which is better? Let's break down the pros and cons.

A pinch and a punch for the first day of the month - it’s May! And with Mother’s Day, the end of the financial year and Taurus season all coming up, there’s a lot to get through.

Since 5G mobile began to roll out in Australia in 2019, it has expanded to cover approximately 75% of the Australian population. But the question remains: how much of Australia actually can get their phones on this network?

Knowing how to effectively save is an important life skill and the earlier you can perfect this skill, the more your savings can grow.

Australia has seen an increase in electric vehicle sales over the last few years, especially now that increasingly affordable options are available. According to ABS data in 2021, electric vehicle registrations increased by 62% from the previous year.

We’ve all heard about popular apps such as Duolingo, TikTok and Shazam but if you want to spice up your phone with some new apps, here are a few good suggestions!

NAB has become the latest Big Four Bank to raise fixed rates for home loans, joining ANZ, Westpac, and CommBank in the continuing saga of the April rate-hike scramble.

Interest is the cost of borrowing money, where a fee is paid to a lender in exchange for a loan. Interest is usually expressed as a percentage, known as an interest rate.  For example, if you’re taking out a loan from the bank, they will add the interest (which is calculated over a set period of time) to the overall loan amount until you pay it all back. This is how the bank makes money.However, interest can also work in your favour, as in the case of savings accounts and term deposits. With these you are essentially lending money to the bank, who will pay you the interest you accrue after a set period of time. In both of these cases, the type of interest charged can be simple or compounded interest. So, what are the differences? Which is better? Is there even a better option? Moreover, how can you calculate the interest you’ll pay or receive? Let’s find out:

The Reserve Bank of Australia has offered the clearest sign yet that it intends to raise the cash rate, meaning mortgage holders around the country could be looking at a very different interest rate environment in the coming months.

With rising home loan interest rates and costs of living on everyone’s mind, there may be relief on the horizon. This month, the Victorian government announced plans for an Affordable Housing Rental Scheme aimed at closing the housing gap and alleviating rental stress.

ANZ and Westpac have joined CBA in announcing changes across their fixed rate home loans last week, with hikes nearly across the board for both investment and owner occupier products. These announcements now mean three out of the Big Four Australian banks have joined the April rate-hike scramble.

If you’ve been within an inch of a conversation about investing in the last few years, you might’ve heard the term ‘exchange-traded funds’ thrown about.

Forget 12 days of Christmas, how about twelve days of free public transport? Over the Easter long weekend, and through to the end of the school holidays, all public transport across the Opal Network in New South Wales will be free.

Property analysts at CoreLogic have noted a quarterly decline in dwelling values across 24% of suburbs in capital cities, most of them in Sydney and Melbourne.

With Easter here I've started thinking more intently about hot cross buns. They're delicious, yes, but where did they come from? And were they actually ever sold anywhere for a penny as the song implies?

New research from Allianz Australia reports 68% of Australians do not have insurance for the valuables they take with them on holiday and 2 in 5 confess they didn’t know valuable items could be insured as an option under their home contents insurance policy.

For the second time in three weeks, Commonwealth Bank hiked fixed rates across home loans, lifting 2-year interest rates (OO, P&I) as much as 50 bp. This move follows the continued April trend of rate-hike fever, which has affected all four big banks.

All in this week’s best banking news recap: editor’s pick.

You buy clothes that fit your personality, lifestyle and size, so shouldn’t you be choosing a bank account the same way? The goal being to search for one that most perfectly fits with your needs and life. Because one size does not fit all.

Those who bank with BOQ, rejoice! There’s an exciting new range of hi-tech home insurance products available to you exclusively from Australia’s first smart home insurance provider, Honey Insurance.

If you’ve built up a decent amount of credit card rewards points, you’ll want to make sure you get to use them. Each credit card offers a different rewards system - with some cards allowing you to automatically earn Qantas Points, while other companies have their own points systems where you can earn points and later convert them into rewards - such as frequent flyer points.

April has been designated as Financial Literacy Month and in light of this, Montessori Australia has announced that it is partnering with Raiz Invest to help fill the gap in financial literacy education among kids.

Remember when the Sydney Harbour went brown after flooding? Aesthetics may be only a hint of the impending disaster.

Cost of living got you down? Fear not friends, we at Mozo are here to help. No need to sweat the small stuff, or the large either! Home loan repayments can stack up, so can your grocery and home internet bills, plus not to mention your ongoing insurance premiums for the car or home. Living comes with lots of costs but they needn't get you bogged down!

The Reserve Bank of Australia is looking to keep a low profile ahead of the May federal election, but it has given the strongest signal yet that its pandemic-era stimulus will be dialled back in the coming months.

Bitcoin! Blockchains! Environmental Crisis?

We’re back with Mozo’s Monthly Banking Roundup; let’s unpack the latest news.

Australia has seen an increase in electric vehicle sales over the last few years, especially now that there are increasingly affordable options available.

Buckle in, folks. After the chaotic Christmas and New Year’s period - April’s got to be the next busiest time of the year.